PARTNERSHIP DEED

This Deed of Partnership is made and written at Lahore on this ___ day of ____, _____ by and between
the following partners:-
1. _________________________________________________________________________
2. _________________________________________________________________________

WHEREAS the above said parties have agreed to pool their resources _______________________
_______________________________ further if any investment required that will be shared as per their
share. Decided to form a partnership firm under the name and style of _______________________ and
WHERES all terms and conditions have settled between the parties and these are to be brought in
written to keep the matter clear, free of doubt and ambiguity and for such uses and reference and need
may from time to time. Hence this deed is drawn up.
NOW THEREFORE, THIS DEED WITNESSETH
1. That the name and style of the firm shall be _____________________________.
2. That the Office of the firm shall be at _____________________________ Its branches and / or
agencies may be opened or closed at such places are need may be and agreed to by and between
the parties.
3. That the business of the firm shall be;
a) __________________________________.
b) Such other allied lines may as well be added as would be deemed fit.
4. That each party has joined hands in this partnership in his individual capacity. No partner shall
dispose of his share in the firm to any other outsider without the consent of the other partners.
5. That each party shall work honestly, diligently and faithfully and shall do nothing to harm the
interest of the firm or its partners.
6. That the accounts of the firm shall be kept regularly / properly and in accordance with law. Each
partner shall be entitled to examine and check the same at his/her own discretion but not shall
obstruct the flow and progress of the business.
7. That the account of the firm shall be closed on 30 th June of every year or other date(s) as shall be
agreed.
8. The profit and loss shall be divided between the partners i.e as per their share.
9. That the account or accounts shall be opened and maintained in any schedule Bank or Financial
Institution in the name of the firm and will be managed by _______________________.
10. That any other partner cannot enter in ___________________ but any partner of the two can
transfer his own share to the other partner or can shift his share to other person only with the
consent of the other partner.
11. This partnership can only be dissolved in case of closure of __________________ or by transfer of
complete share of one partner or other partner.
12. That the firm shall not be responsible for any personal liabilities including Government dues of
the partners.
13. That each partner shall bear his burden of Income/Wealth Tax etc.
14. That each partner may withdraw such sums from his account as shall be agreed to between the
partners.
15. That the partners may change, alter or amend any the clause or clause by mutual consent.
16. That in case of any dispute of difference, the same shall first be settled mutually or shall be
referred to Arbitration in accordance with law.
17. That all provisions of The Partnership Act, 1932, which are not contained herein, shall be
applicable in the usual way.
18. That the partnership shall take effect from __________________.
19. This partnership cannot be altered or canceled before completion of one year.
IN WITNESSES WHEREOF the partner have signed this deed of partnership on the date, month and
year mentioned here-in-above in the presence of the witnesses.

_________________________________

_____________________________________________________________

Witnesses

1. ______________________ 2. ______________________

________________________ ________________________